Current Contribution Rates

The following tables provide the General Assembly-enacted employer contribution rates for fiscal years 2019 and 2020. The 2019-2020 budget funds 100 percent of the VRS-certified contributions rates.

VRS Employer Contribution Rates by Fiscal Year

Retirement Program

2019 & 2020 *

* Full actuarially determined rates.

State Employees

13.52%

Teachers

15.68%

State Police Officers' Retirement System

24.88%

Virginia Law Officers' Retirement System

21.61%

Judicial Retirement System

34.39%

Non-Professional School Board and Political Subdivision Employees

Varies by Employer

Other Post-Employment Benefits Contribution Rates by Fiscal Year

2019 & 2020 *

* Full actuarially determined rates.

Group Life Insurance

Employee

0.79%

Employer

0.52%

Total

1.31%

Health Insurance Credit

State Employees

1.17%

Teachers

1.20%

Non-Professional School Board Members and Political Subdivision Employees

Varies by Employer

Virginia Sickness and Disability Program (VSDP)

Covered Payroll

0.62%

Virginia Local Disability Program (VLDP)

Teachers

0.41%

Political Subdivision Employees

0.72%

Valuation Reports

VRS provides actuarial valuation reports to help employers establish required contribution levels and disclose plan assets and actuarial liabilities that are used to determine the funded status of the retirement plan, and to provide supporting information regarding the plan's operation. The reports are also a resource for complying with Governmental Accounting Standards Board Statements No. 43 and No. 45, which require actuarial valuations of retirees' other post-employment benefits (OPEB).